(Reuters) - Dollar General Chief Financial Officer John Garratt said on Thursday that customers of the discount retailers will face higher prices due to rising tariffs.
Garratt on a post-earnings call said the company has been implementing different strategies to mitigate the impact of tariffs, including negotiations with vendors.
“But even with these efforts, we believe our shoppers will be facing higher prices as 2019 progress,” he said.
Washington dramatically escalated its trade war with Beijing this month by hiking levies on $200 billion of Chinese goods from 10% to 25% and U.S. President Donald Trump also threatened new tariffs on remaining $300 billion worth U.S. imports from China.
Reporting by Aishwarya Venugopal in Bengaluru; Editing by Maju Samuel